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20130107
20130115
Search Results 0 to 1 of about 2 (some duplicates have been removed)
defaulting on everything, and really i mean everything else. the fbi will shut down, people responsible for tracking down loose nuclear weapons, the court system closes its doors. the faa off line, parks closed, food safety inspections, they stop, nobody gets tax refunds or fixes your roads. it is bad, second, meanwhile, too, the financial markets will go into complete chaos, u.s. government debt is after all the safest investment in the world, so it is used as the benchmark for all other types of debt. what that means, when you buy a mortgage the government looks at what it pays to borrow and begins your estimate there. if we spike the treasury rate because nobody trusts our government anymore that spikes credit card rates and mortgage rates. not to mention all manner of trillions and trillions of dollars of weird financial derivatives that are also bench marked to treasuries. the damage to the economy on that would be unbelievable. and it would occur at every level from individuals looking for a loan to get a house to hedge funders trying to play the markets. so it would be like 2008
Search Results 0 to 1 of about 2 (some duplicates have been removed)